JPMorgan analyst Tien-tsin Huang upgraded Toast (TOST) to Overweight from Neutral with an unchanged price target of $43. The shares are down 6% year-to-date despite estimates rising 27%, the analyst tells investors in a research note. The firm sees upside potential to estimates if interchange gets regulated. Toast should maintain “top decile growth” as a software-led payments leader, “unburdened” by legacy distribution, contends JPMorgan.
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